Canada’s economy contracted 0.2 % in February, its first monthly decline since November, as slumps in mining, oil and gas extraction, and construction dragged overall output lower, Statistics Canada said.
Canada’s economy contracted by 0.2 percent in February, the first monthly decline since November, as weakness in mining, oil and gas extraction and construction offset gains elsewhere, Statistics Canada reported on Wednesday.
The goods-producing side of the economy shrank 0.6 percent, led by a 2.5 percent slide in mining, quarrying and oil and gas extraction after two months of growth. Construction fell 0.5 percent—its first drop in four months—driven largely by a 0.9 percent decline in residential building activity. Service-producing industries edged down 0.1 percent, with modest pullbacks in real-estate rental and leasing, finance and insurance, and education.
Statistics Canada said harsh winter storms in several provinces contributed to February’s weakness. Businesses also faced softer demand after earlier stocking up on supplies amid uncertainty over potential U.S. tariffs; those advance purchases have left inventories high and dampened new orders.
Analysts had expected February output to be flat, matching the agency’s advance reading. January GDP had climbed 0.4 percent.
StatCan’s early estimate points to a 0.1 percent expansion in March and annualised first-quarter growth of about 1.5 percent, though final quarterly figures—calculated from expenditure and income data—may differ slightly.
While strong consumer spending and lower interest rates lifted growth late last year, the Bank of Canada warns that 2025 could prove challenging as the economy contends with U.S. duties on steel, aluminium, autos and other goods.
If the European Central Bank adjusts interest rates in the next six months, the move would likely be a cut, ECB policymaker Francois Villeroy de Galhau said on Thursday.
The US Embassy in Qatar has temporarily barred its personnel from entering Al Udeid Air Base due to rising regional tensions linked to the ongoing conflict between Israel and Iran.
Wizz Air Abu Dhabi, the UAE’s ultra-low-fare national airline, has officially launched flights from Gabala, adding a second Azerbaijani city to its growing network and becoming the only low-cost carrier to connect the region with Abu Dhabi.
The World Bank has approved a $640 million loan to Bangladesh to help improve gas supply security and reduce dangerous air pollution in urban areas.
Israel’s sweeping surprise attack on Iran last week marked a major escalation in tensions, with Israeli Prime Minister Benjamin Netanyahu declaring it had “struck at the head of Iran’s nuclear weaponization program.”
If the European Central Bank adjusts interest rates in the next six months, the move would likely be a cut, ECB policymaker Francois Villeroy de Galhau said on Thursday.
Iran's foreign minister is expected in Istanbul on Saturday for a key Organisation of Islamic Cooperation (OIC) council meeting as regional tensions rise over Israel's strikes on Iranian nuclear sites.
The US Embassy in Qatar has temporarily barred its personnel from entering Al Udeid Air Base due to rising regional tensions linked to the ongoing conflict between Israel and Iran.
Wizz Air Abu Dhabi, the UAE’s ultra-low-fare national airline, has officially launched flights from Gabala, adding a second Azerbaijani city to its growing network and becoming the only low-cost carrier to connect the region with Abu Dhabi.
The World Bank has approved a $640 million loan to Bangladesh to help improve gas supply security and reduce dangerous air pollution in urban areas.
Peace is no longer a dream. It is a discussion. On the streets of Baku and Yerevan, it is also a question, of trust, of foreign interests, and of who truly wants it.
Israeli strikes have reportedly targeted areas near the residences of Iran’s Supreme Leader Ayatollah Ali Khamenei and President Masoud Pezeshkian, according to the New York Times, citing local witnesses.
Azerbaijan Airlines (AZAL) has cancelled certain flights scheduled for 13th and 14th June amid recent escalation of situation in the Middle East and the closure of airspace in several countries for security reasons.
The 2025 G7 Leaders’ Summit was held June 15–17 in Kananaskis, Alberta, under Canada’s presidency. Prime Minister Mark Carney framed the meeting around priorities of protecting communities, energy and climate security, the digital transition, and future partnerships.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 17th, covering the latest developments you need to know.
Iran's foreign minister is expected in Istanbul on Saturday for a key Organisation of Islamic Cooperation (OIC) council meeting as regional tensions rise over Israel's strikes on Iranian nuclear sites.
The US Embassy in Qatar has temporarily barred its personnel from entering Al Udeid Air Base due to rising regional tensions linked to the ongoing conflict between Israel and Iran.
The World Bank has approved a $640 million loan to Bangladesh to help improve gas supply security and reduce dangerous air pollution in urban areas.
Kremlin spokesman Dmitry Peskov said Thursday that Ukraine “will have to understand and accept” the post-war realities, as Moscow signals openness to a third round of peace negotiations with Kyiv.
Israel has confirmed it carried out airstrikes on Iran’s only operational nuclear power plant in Bushehr, marking a significant escalation in the ongoing conflict.
If the European Central Bank adjusts interest rates in the next six months, the move would likely be a cut, ECB policymaker Francois Villeroy de Galhau said on Thursday.
Iran's foreign minister is expected in Istanbul on Saturday for a key Organisation of Islamic Cooperation (OIC) council meeting as regional tensions rise over Israel's strikes on Iranian nuclear sites.
The US Embassy in Qatar has temporarily barred its personnel from entering Al Udeid Air Base due to rising regional tensions linked to the ongoing conflict between Israel and Iran.
Wizz Air Abu Dhabi, the UAE’s ultra-low-fare national airline, has officially launched flights from Gabala, adding a second Azerbaijani city to its growing network and becoming the only low-cost carrier to connect the region with Abu Dhabi.
The World Bank has approved a $640 million loan to Bangladesh to help improve gas supply security and reduce dangerous air pollution in urban areas.
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